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Service Delivery

Methods of Receiving Standard Financial Viability & Capacity Assessments:

Step 1. Client Setup and administration

We have developed a secure automated and integrated system that administrates client details, provides on-line ordering facilities, logs and tracks enquiries, gives access to other online services and delivers usage reports and billings.

Each user is provided with a unique login and password. The system allows for flexible billing arrangements and on-line transaction statements. The site can be customised for specific clients or client groups and include customised product ranges. (e.g. NSW Government). The standard website is at www.corporatescorecard.com.au

Step 2. Ordering reports

Orders can be processed singularly or in batch through the on-line ordering system, or by email, by fax, spreadsheet, mail or by telephone. We have designed our online order forms to trap the information required by analysts for the specific application/client requirement, including any special delivery timeframe requirements within the standard turnaround of 5 working days. The online smart-form is linked to ASIC and ATO databases to enable, entity validation in real time. The form also enables the client to upload files soft copies of financial documents, balance sheets and income statements, etc, in a secure environment.

On submitting the enquiry, the system automatically provides order confirmation and a job number and enables the client to track the progress of the order.  For multiple orders, generally 20 or more, we encourage clients to submit a spreadsheet. For complex assignments, we would normally organise a meeting with client to help develop a detailed briefing. We would then prepare a reverse brief, outlining the background and objectives of the assignments, scope, proposed methodology, deliverables and timeframes, accompanied by a fixed fee quotation.

Because time is of the essence, we will start an engagement without a Purchase order, (at our risk). Purchase orders can be processed with the enquiry, (There is a separate field for this), or afterwards. Some clients raise purchase orders for a specified amount/period. In these cases we load it against the clients profile to ensure it is displayed on the tax invoice.

Step 3. Getting the information

A critical step in the preparation of any financial viability report is getting the required information. As an ASIC broker, we have direct access to company and business name searches and the pps database. We also have access to court record data on entities and principals, plus information on related entities and corporate details on companies based overseas. 

Once the background checks have been completed, the analyst assigned to the job will contact the subject by phone explaining the purpose of the enquiry and send an email detailed what information is required, (Latest financial statements, management accounts, recent contracts and work in progress, referees and references etc.) A confidentiality deed is provided on request and strict probity conditions are observed at all times. Our success rate in getting the required information is extremely high and we would expect to get all the required data within 3 working days, 1 working day on priority cases.

Step 4. Analysis and report preparation

Once it is received, the subject’s financial data is validated against the ASIC search data to ensure it applies to the correct entity. It is then uploaded into Corporate Scorecard’s financial diagnostic system, which utilises a sophisticated scoring matrix integrating the financial strength, financial capacity and qualitative (non-financial) risk factors to analyse the capacity of the organisation to meet the contract or panel criteria. This assessment provides the analysts with an essential tool to assess the integrity of data provided for assessment, helping to identify any anomalies or possible discrepancies in financial statements and profit and loss accounts. This especially relevant when management accounts are provided.

Step 5. Quality Assurance

A Chartered Accountant/CPA is always assigned to undertake all our top level reviews, (e.g. Credit Rating and Insolvency Reports).  A Chartered Accountant/CPA and is also responsible for quality reviews of all reports to check the assessment, verify the integrity of the report and determine that the recommendation(s) are sound and appropriate.

CSC applies a project review process for every report prepared.  The aim of this process is to increase the quality and consistency of advice and deliverables.  All project deliverables undergo a full review by a manager not directly involved in the project.  The process involves reviewing the deliverable to ensure, at a minimum that:

It should be noted that we have established an internal accreditation process for new analysts in which they must prove their consistent competency to prepare reports at each level before they are permitted to prepare assessments without supervision or move to the next level. This process incorporates an assessment form which is graded by a senior analyst. The analyst must achieve three consecutive 100% assessments before being allowed to undertake assessments at the next level.

CSC's quality management procedures cover a range of matters including: peer review, director signoff, quality measures, identifying and addressing non-conformities, issue escalation, etc.  CSC members have online access to the company’s Operations Manual and Operating Guidelines. All members are thoroughly trained in the field of financial and risk analysis, and undergo annual Continuing Professional Development (CPD).

The operations process involves systematic internal quality controls to ensure the highest levels of integrity of analysis and quality of reports, including mandatory and cautionary validation alerts and exception reporting. All reports pass through a quality review process and Project Director sign-off.

Processing Enquiries Workflow

Workflow